XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables set forth the Company’s financial instruments carried at fair value using the lowest level of input that is significant to each financial instrument as of September 30, 2020 and December 31, 2019 (in thousands):
 September 30, 2020
 Quoted Prices
in Active Markets
for Identical Items
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets:    
Money market funds$186,379 $— $— $186,379 
Corporate obligations— 43,336 — 43,336 
U.S. Treasury securities— 123,210 — 123,210 
Certificates of deposit— 247 — 247 
Mortgage and other asset backed securities— 4,999 — 4,999 
Total assets$186,379 $171,792 $— $358,171 
 
 December 31, 2019
 Quoted Prices
in Active Markets
for Identical Items
(Level 1)
Significant other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets:    
Money market funds$193,867 $— $— $193,867 
Corporate obligations— 138,369 — 138,369 
U.S. Treasury securities— 83,819 — 83,819 
Certificates of deposit— 493 — 493 
Mortgage and other asset backed securities— 12,470 — 12,470 
Total assets$193,867 $235,151 $— $429,018 
Liabilities:    
Warrants to purchase common stock$— $— $1,856 $1,856 
Total liabilities$— $— $1,856 $1,856 
Summary of Changes in the Fair Value of the Preferred and Common Stock Warrant Liability
The following table sets forth a summary of changes in the fair value of the Company’s common stock warrant liabilities, which represent a recurring measurement that is classified within Level 3 of the fair value hierarchy, wherein fair value is estimated using significant unobservable inputs (in thousands):
 Nine Months Ended September 30,
 20202019
Beginning balance$1,856 $1,491 
Change in fair value1,873 (165)
Settlement(3,729)— 
Ending balance$— $1,326